Cabana Capitals Blog Technical Analysis Possible breach of resistance level by FTSE 100

Possible breach of resistance level by FTSE 100

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FTSE 100 was identified at around 8397.9 having recently rebounded of the support on the 1 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 8435.6426 level.

Target: 8435.6426 Entry: 8397.9 Stop: 8361

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